Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

v3.19.3.a.u2
Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of share-based payment arrangements
The Company recognized the following amounts related to the Company’s share-based payment arrangements (in thousands):
 
Year Ended December 31,
 
2019
 
2018
 
2017
Stock-based compensation cost charged against loss, before income tax benefit
 
 
 
 
 
Stock options
$
331

 
$
326

 
$
366

Restricted stock and restricted stock units
521

 
566

 
765

Performance stock units
5

 
190

 
59

Total stock-based compensation costs
$
857

 
$
1,082

 
$
1,190

Stock-based compensation cost included in:
 
 
 
 
 
Cost of revenues
$
26

 
$
34

 
$
39

Operating expenses
831

 
1,048

 
1,151

Total stock-based compensation costs
$
857

 
$
1,082

 
$
1,190

Schedule of assumptions used to determine the fair value of stock options awards granted
The fair value of each option award is estimated at the date of grant using the Black-Scholes option pricing model. The assumptions used to determine the fair value of stock option awards granted were as follows:
 
Year Ended December 31,
 
2019
 
2018
 
2017
Expected life of options in years
4.70 - 4.75
 
4.54 - 4.75
 
4.75
Risk-free interest rate
1.8% - 2.5%
 
2.6% - 2.9%
 
1.7% - 2.0%
Expected volatility
69.7% - 73.6%
 
69.6% - 70.5%
 
64.2% - 66.2%
Expected dividend yield
—%
 
—%
 
—%
Schedule of share-based compensation pertaining to stock options
A summary of share option activity is presented in the table below (in thousands, except per share data):
(In thousands, except per share data)
Shares
 
Weighted Average Exercise Price
 
Weighted
Average
Remaining
Contractual Term
(in years)
 
Aggregate
Intrinsic Value(1)
Options outstanding at December 31, 2016
1,508

 
$
7.03

 
 
 
 

Granted
165

 
2.16

 
 
 
 

Exercised

 

 
 
 
 

Canceled
(385
)
 
7.81

 
 
 
 

Options outstanding at December 31, 2017
1,288

 
6.18

 
 
 
 
Granted
758

 
2.24

 
 
 
 
Exercised

 

 
 
 
 
Canceled
(604
)
 
7.60

 
 
 
 
Options outstanding at December 31, 2018
1,442

 
3.51

 
 
 
 
Granted
39

 
3.11

 
 
 
 

Exercised
(40
)
 
2.55

 
 
 
 

Canceled
(381
)
 
5.20

 
 
 
 

Options outstanding at December 31, 2019
1,060

 
2.93

 
4.6
 
$
275

Total vested and expected to vest as of December 31, 2019
1,060

 
2.93

 
4.6
 
$
275

Options exercisable as of:
 
 
 
 
 
 
 
December 31, 2017
838

 
$
7.85

 
 
 
 
December 31, 2018
572

 
5.29

 
 
 
 
December 31, 2019
540

 
3.51

 
3.9
 
$
92

________________________________________________________________
(1) 
Aggregate intrinsic value includes only those options with intrinsic value (options where the exercise price is below the market value).
Schedule of other share-based compensation, activity
Other information pertaining to options is as follows (in thousands, except per share data):
 
Year Ended December 31,
 
2019
 
2018
 
2017
Fair value of options granted
$
71

 
$
982

 
$
193

Per share weighted average fair value of options granted
$
1.83

 
$
1.30

 
$
1.17

Total intrinsic value of stock options exercised
$
55

 
$

 
$

Nonvested restricted stock shares activity
A summary of restricted stock and restricted stock units activity is presented in the table below (in thousands, except per share data):
 
Number of Shares
 
Weighted Average
Grant-Date Fair Value
Nonvested at December 31, 2016
190

 
$
7.13

Granted
213

 
2.44

Vested
(146
)
 
5.67

Canceled
(39
)
 
5.21

Nonvested at December 31, 2017
218

 
3.87

Granted
279

 
2.17

Vested
(186
)
 
3.66

Canceled
(3
)
 
14.78

Nonvested at December 31, 2018
308

 
2.38

Granted
230

 
3.16

Vested
(198
)
 
2.53

Canceled
(31
)
 
2.25

Nonvested at December 31, 2019
309

 
$
2.87

Schedule of share-based compensation pertaining to restricted stock and restricted stock units
Other information pertaining to restricted stock and restricted stock units is as follows (in thousands, except per share data):
 
Year Ended December 31,
 
2019
 
2018
 
2017
Per share weighted average grant-date fair value of restricted stock and restricted stock units granted
$
3.16

 
$
2.17

 
$
2.44

Total fair value of restricted stock and restricted stock units vested
$
749

 
$
377

 
$
392

Schedule of Nonvested Performance-based Units Activity [Table Text Block]
The percentage achievement for the performance stock units may not exceed 100%.
A summary of performance stock units activity is presented in the table below (in thousands):
 
Number of Units
 
2018 Performance Stock Units
 
2017 Performance Stock Units
 
Total Performance Stock Units
Nonvested at December 31, 2016

 

 

Granted

 
166

 
166

Vested

 

 

Canceled

 
(26
)
 
(26
)
Nonvested at December 31, 2017

 
140

 
140

Granted
169

 

 
169

Vested

 
(116
)
 
(116
)
Canceled
(21
)
 
(24
)
 
(45
)
Nonvested at December 31, 2018
148

 

 
148

Granted

 

 

Vested
(98
)
 

 
(98
)
Canceled
(9
)
 

 
(9
)
Nonvested at December 31, 2019
41

 

 
41